Trump Media and Technology Group (TMTG) and TAE Technologies said on June 10 that they had decided against spinning off Truth Social and certain other TMTG media assets into a new publicly listed company.
TMTG, founded by US President Donald Trump and known for its conservative-focused Truth Social platform, has faced challenges scaling its media business amid competition from larger social networks and uneven user growth.
The companies did not provide a reason for walking back the idea of a Truth Social spin-off.
TMTG said it remained focused on completing its merger with TAE and targets closing the deal in the fourth quarter of 2026 or sooner.
In December, TMTG agreed to merge with TAE in an all-stock deal valued at more than US$6 billion, marking a pivot toward fusion energy and the creation of a publicly traded company focused on developing utility-scale power plants to help meet rising electricity demand, including from AI data centres.
California-based TAE Technologies is developing nuclear fusion technology and has raised more than US$1 billion from investors, including Alphabet’s Google and oil major Chevron.
Earlier in 2026, TMTG appointed Kevin McGurn as its interim CEO. McGurn has been an adviser to Trump Media since December 2024.
Shares of TMTG were down about 1 per cent in pre-market trading. They have fallen more than 38 per cent in 2026. REUTERS
